Claim settlement ratio is calculated on calculating the percentage of total number of claims settled from the total number of claims received by a life insurance company in a particular financial year. (financegab.com)
The calculation of Claim Settlement Ratio is based on the total number of claims received by the insurance company against the total number of claims settled by it. (policybazaar.com)
This information is critical because it indicates the percentage of claims honoured by the insurance company versus the total claims received in a given year. (policybazaar.com)